BAFL 45.26 Increased By ▲ 0.21 (0.47%)
BIPL 20.08 Decreased By ▼ -0.43 (-2.1%)
BOP 5.42 Decreased By ▼ -0.22 (-3.9%)
CNERGY 4.54 Decreased By ▼ -0.01 (-0.22%)
DFML 15.65 Decreased By ▼ -0.05 (-0.32%)
DGKC 73.20 Increased By ▲ 1.99 (2.79%)
FABL 27.33 Decreased By ▼ -0.07 (-0.26%)
FCCL 17.54 Increased By ▲ 0.39 (2.27%)
FFL 9.05 Increased By ▲ 0.50 (5.85%)
GGL 12.60 Decreased By ▼ -0.07 (-0.55%)
HBL 111.67 Decreased By ▼ -1.03 (-0.91%)
HUBC 122.28 Increased By ▲ 3.17 (2.66%)
HUMNL 7.24 Decreased By ▼ -0.36 (-4.74%)
KEL 3.26 Decreased By ▼ -0.01 (-0.31%)
LOTCHEM 27.70 Decreased By ▼ -0.15 (-0.54%)
MLCF 39.55 Increased By ▲ 0.47 (1.2%)
OGDC 108.80 Increased By ▲ 0.49 (0.45%)
PAEL 17.74 Decreased By ▼ -0.01 (-0.06%)
PIBTL 5.40 Decreased By ▼ -0.16 (-2.88%)
PIOC 107.40 Increased By ▲ 1.40 (1.32%)
PPL 91.77 Decreased By ▼ -0.73 (-0.79%)
PRL 24.95 Decreased By ▼ -0.39 (-1.54%)
SILK 1.06 Decreased By ▼ -0.01 (-0.93%)
SNGP 63.04 Decreased By ▼ -0.68 (-1.07%)
SSGC 11.89 Decreased By ▼ -0.11 (-0.92%)
TELE 8.15 Decreased By ▼ -0.31 (-3.66%)
TPLP 13.16 Decreased By ▼ -0.18 (-1.35%)
TRG 81.38 Decreased By ▼ -4.02 (-4.71%)
UNITY 25.85 Decreased By ▼ -0.11 (-0.42%)
WTL 1.51 Decreased By ▼ -0.03 (-1.95%)
BR100 6,181 Decreased By -4.8 (-0.08%)
BR30 21,539 Increased By 79.8 (0.37%)
KSE100 60,531 Increased By 29.3 (0.05%)
KSE30 20,188 Increased By 13 (0.06%)

MCB Bank Limited posted consolidated earnings of Rs34.451 billion in 2022, up 10% from a year ago, a notice sent to the Pakistan Stock Exchange (PSX) stated on Wednesday.

MCB announced an interim cash dividend of Rs6 per share i.e. 60% for the quarter ended December 31 2022. This is in addition to the interim dividend already paid at Rs14 per share i.e. 140%.

As per the consolidated profit and loss account of MCB, the bank said its profit-before-tax during 2022 increased to Rs75.34 billion against Rs53.27 billion during 2021, representing an increase of 41.4%.

Profit After Tax (PAT) registered an increase of 10% from Rs31.32 billion, translating into Earning Per Share (EPS) of Rs29 compared to an EPS of Rs26.31 for the same time last year.

Moreover, MCB’s net interest income during 2022 increased by 40% over corresponding period last year. Non-markup income increased to Rs25.91 billion in 2022 against Rs20.65 billion in 2021, registering a growth of 25.4%.

The increase in non-markup income came mainly from foreign exchange, which increased from Rs3.84 billion in 2021 to Rs9.58 billion, an increase of 149%.

The development comes as banks made excessive gains under foreign exchange income due to currency volatility last year, raising concerns among authorities.

In December, SBP Governor Jameel Ahmed informed the National Standing Committee on Finance and Revenue that investigations against leading banks have been launched regarding exchange rate manipulation.

Later on, the Ahmed said that the SBP had completed its investigation over alleged exchange-rate manipulation by commercial banks in the country, and will put forth a decision after consultations on whether the apparent penalty is to be pursued from a regulatory or fiscal standpoint.

Meanwhile, MCB also said its non markup/ interest expense jumped up to Rs49.85 billion in 2022, in comparison to Rs42.17 billion in 2021.

Comments

Comments are closed.

MCB’s profit up 10% in 2022, forex income jumps 149%

COP28 opens with ‘historic’ launch of loss and damage fund

Blinken says truce between Israel-Hamas is producing results

Long wait for freedom: Afghan refugees in limbo in Pakistan

Inter-bank: rupee registered 3rd successive gain against US dollar

Open market: rupee strengthens against US dollar

Pakistan’s central bank reserves increase $77mn, now stand at $7.26bn

PM Kakar calls for utilizing Loss & Damage Fund on merit

Oil prices fall amid skepticism on OPEC+ supply cuts

Pakistan cannot develop without development of Balochistan: Zardari

KSE-100 stays flat amid profit-taking